POSCO Pilbara Minerals JV is officially put into operation at the Gwangyang Lithium Hydroxide Plant in South Korea

POSCO Pilbara Minerals JV is officially put into operation at the Gwangyang Lithium Hydroxide Plant in South Korea

POSCO Pilbara Minerals JV opens a lithium hydroxide factory in Gwangyang, South Korea and officially starts A production

November 30, 2023

Pilbara Minerals (Australian Stock Exchange code: PLS) announced that Train 1 of the lithium hydroxide chemical facility (chemical facility) located in Gwangyang, South Korea has officially started production. This important milestone event was attended by the Board of Directors of Pilbara Minerals and the Chairman of POSCO Holdings.

The chemical facility is owned and operated by Pilbara Lithium Solution Co Ltd (PPLS) joint venture (JV), with POSCO Holdings holding 82% and Pilbara Minerals holding 18%. Pilbara Minerals has the right to increase its equity to 30% at any time within 18 months after the chemical facility is successfully increased to 90% of its rated capacity.

Train 1 of the chemical facility aims to produce 21.5 thousand tons (ktpa) of lithium hydroxide per year (21500 tons) at its rated capacity, and its commissioning work is about to begin.

Dale Henderson, Managing Director and CEO of Pilbara Minerals, stated:

Pilbara Minerals has been in discussions with POSCO regarding this chemical facility since 2018, so today is an important moment for both parties as we advance our strategy towards downstream value chains.

We look forward to becoming a meaningful producer of lithium hydroxide and supporting the world's transition towards a more sustainable future energy.

"I would like to express my special gratitude to our partner POSCO Holdings, especially Chairman Choi, for their support and commitment so far. Through partnerships like ours, the strong bond and bilateral relationship between Australia and South Korea continue to be strengthened."